The number of female entrepreneurs in the UK is steadily rising despite the difficult economic conditions of the past five years. In July 2013 the Office for National Statistics reported that there were 1.35 million women in self- employment a figure which was 19% higher than in 2008.
However an interesting report from the Chartered Institute of Personnel and Development (CIPD), Inspiring Female Entrepreneurs, argues that urgent action is needed to stem a ‘leaking talent pipeline’ that could hinder the progress of economic growth. It reports that there are more than 2.4 million unemployed women who want to work and that if there were as many female entrepreneurs as there are male entrepreneurs, GDP could be boosted by 10% by 2030.
The report features some interesting case studies of women who have successfully started their own businesses and it summarises some ‘Female entrepreneurial practices that work’ namely: motivation; attitude to finance; taking a personal and relational marketing approach; and ‘business savvy’.
You need to provide the motivation yourself but an EBS MBA would certainly help with the rest ….